August 25, 2008
I would agree that more oversight of fixed annuities is needed. But I also disagree fixed annuities are a security. Please find me a security that has a guarantee excluding bonds. I agree the SEC should have more oversight of insurance. If I was the SEC I would work more on the lines of making an SRO for the insurance industry. But making this a security, by doing this all you are doing is making FINRA a monopoly and I dont think you want this.